The AUDUSD 0.12% gained sharply at the beginning of November align with a recovery Chinese markets. Now price is trading in the upper range of the . With trade war still looming large, AUD could saw strong bears a head. Therefore, look for trade war news and performance of Chinese markets for head way for price action. signals could trigger a reversal, as the Australian dollar’s strength comes mostly from prices due to its exports.
Exhibit 1: IG Client AUDUSD Positioning